Our 2015 Savings Rate
NOTA BENE : our 2015 salary and tax information was updated on February 5th, 2016. These updates resulted in higher savings rates than previously estimated. Greetings current and future millionaires! A reader wanted to know about our savings rate, and I realized that I needed to put this figure to paper. Since June represented the midway point of the year, I projected our annual income by simply doubling the amounts of our June pay stubs. Basically, I opened up a spreadsheet, doubled our June pay stubs, and entered the amounts. Within in 10 minutes I had some numbers to work with. (I can't believe that I had never made this calculation before!) As the chart below indicates, we have three sources of income: the salaries from our jobs, our 72t IRA distributions, and our 457 distributions. From those numbers I was able to determine our savings rate as a percentage of our salaries and another as a percentage of our total income . The varying savings rate estimates are base...